Sub Prime Mortgage Lenders

Sub prime mortgage lenders are essentially specialist mortgage providers that may offer mortgage loans to customers who are experiencing credit problems. When searching for an appropriate mortgage deal, it is advisable to compare mortgages as much as possible by researching the market.

 

These credit problems can have a substantial affect on customer’s financial situation, and can impose a large number of limitations that can at times be difficult to deal with. If for example a business owner were forced to declare bankruptcy, a mortgage from a subprime lender may be their only option if their personal debts became difficult to manage.

 

These types of mortgages are often required by individuals who may be facing mounting debt problems. Indeed, many providers specialise in offering a debt consolidation service for customers who are becoming overwhelmed by their payments.

 

If you have credit problems and are searching for a suitable mortgage, feel free to look at our mortgage comparisons table for more information on the various remortgage deals that are available:

Current Mortgage Deals
Initial RateProviderPeriod ToTypeAPR*LTV 
1.90% ING DirectJul 2019Discounted Variable 3.40% 70% More >
1.98% Skipton BSMay 2019Variable 4.70% 60% More >
1.99% first directMay 2019Variable 3.60% 65% More >
1.99% Royal Bank of ScotlandJun 2019Variable 3.80% 50% More >
1.99% The Mortgage WorksJul 2019Variable 4.60% 70% More >
*APR - Overall Cost for Comparison
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Latest Mortgage Deals Selection

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

2.49%

Reverts to 4.70%

5

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.00% APRC. This is the cost of the mortgage over the full term.
Fixed

2.69%

Reverts to 4.70%

5

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.10% APRC. This is the cost of the mortgage over the full term.

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products are a selection of top deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

In such circumstances, the sub prime mortgage lender may choose to offer the customer a loan that will completely pay off their outstanding debts. Before doing so, they will usually set out a repayment and interest rate plan with the customer in order to ensure that they can pay off the new, consolidated debt.

 

In other cases, customers with a poor credit history may require a mortgage in order to purchase property. As many high street lenders often refuse customers who have a poor credit history, the services of sub prime mortgage lender may be a useful option.

 

It should be remembered however that sub prime mortgage lenders may often charge significantly higher interest rates for their mortgage loans. While this is unfortunate for borrowers, these higher interest rates are usually charged in order to compensate for the higher degree of risk that is associated with lending to customers with a poor credit history.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker